Ripple (XRP) must wait for peace with SEC until May, according to lawyers
Ripple and its leadership could actually put the SEC’s lawsuit against them behind in March. But questions from media and investors remain as to why no solution to the conflict between Ripple and the SEC is already being announced. Well, a lawyer from the Ripple community has now published a timeline that provides plausible explanations. According to him, a settlement cannot be realistically expected before May.
Bill Morgan is the lawyer’s name, who approaches his argumentation by looking at current legal documents and how the SEC is proceeding in other lawsuits against crypto companies. The fact that Ripple is currently still not blaming the negotiations is based on the assumption that Ripple must align its steps in the case with the court. In fact, Judge Analisa Torres works on a schedule that currently includes two important elements.
Firstly, the further negotiations for civil monetary penalties that Ripple and the SEC should settle. With the judgment in the principal matter last summer, Judge Torres found Ripple only partially guilty. As a result, Ripple must probably pay a fine, but it remains open how much this could be. The process to clarify this began in September 2023 and is not being postponed.
Secondly, the procedure for other generally important questions about the court proceedings that must be clarified. This also started in September and is supposed to close in early 2024. Only then do the evaluations and decisions start. Customarily, observers assume that from the court’s point of view, a penalty sum for Ripple and more transparency regarding previous processes should be determined.
In this light, a real settlement, whereby Ripple pays the fine and the SEC drops further claims after transparency, is indeed realistically unavoidable until May. Without a compromise, both parties would respectively pursue appeals that could drag for years. James K. Filan, who has been observing the process almost from the start as a lawyer, agrees with Bill Morgan and his assessments with respect to timeframes and dynamics.
Kevin M. Rachak, a business lawyer from New York, emphasizes in his statement that Ripple will likely attempt a settlement before year-end. The uncertainty gnawing at the XRP price is a concern both internally and externally. However, steadfast facts like the court schedule and the progress of negotiations cannot be overlooked and created.
Regardless of when an agreement between Ripple and the SEC is officially concluded, the XRP traders will continue monitoring the coin’s performance, with updates accounted for in real-time. The situation exemplifies that complaints against crypto projects endure until proven otherwise, and finding a communal answer often extends tasks over several months.
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